Civil Code House

Separations of couples already in itself are usually traumatic. If we add to this emotional damage patrimonial damage involved in common have a mortgaged in a real estate market very little fluid is currently (in other words, with many difficulties to sell the home at a reasonable price), the drama is served. Rob Daley is open to suggestions. When two people have in common a House and a mortgage loan, you have several options to undo the situation: sell the property to a third party, cancel the mortgage and distribute gains or losses, if any. It would be the best option, complicated given the current economic situation. Proceed to the extinction of the condominium; to understand us, sold the House to the other.

The dation in payment to the Bank; It is a quite complicated option, which consists of offering the House in exchange for removing US mortgage debt to the Bank. The legal uncertainty for the Bank that carries this procedure hinders its realization. Intermediate temporary situations that do not affect the ownership of the good; from live together After the separation (today is a usual situation) and continue paying the mortgage until it is one rental or at the House of his parents and the other stays in the mortgaged, according as spreads payment mortgage and other expenses. We will see the case of the termination or dissolution of condominium. First of all should know the legal definition which makes condo Civil Code: there are community when the ownership of a thing or a right belongs undivided pro to several people a House whose ownership is distributed to 50% by each Member of the couple, the effects legal is a community of goods, being the good House. The undivided pro means that while each of the parties have half of the floor, this half is not defined. I.e. they have half together, but do not specify if one has bath and the other room, for example.

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